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Corporate Debt

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  • March 19- Canada's Bank of Nova Scotia sued Cliffs Natural Resources Inc, saying the U.S. iron ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine in Quebec, where costs exceeded expectations, and started restructuring the Canadian...

  • March 19- Iron ore miner Cliffs Natural Resources Inc has been sued by Canada's Bank of Nova Scotia for about $52.6 million for breaching some debt terms related to its Bloom Lake mine in Quebec. Cliffs' application for creditor protection in Canada "constituted a default" under the loan agreement, accelerating the company's payment obligations, Scotiabank...

  • March 18- Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp. Ocwen, which delayed filing its full-year results, also said it was reviewing the ability of its affiliate, Home Loan Servicing Solutions Ltd, to meet obligations to fund new servicing advances.

  • March 18- Ocwen Financial Corp said it will sell residential mortgage servicing rights worth $9.6 billion to Green Tree Loan Servicing LLC, a subsidiary of Walter Investment Management Corp..

  • SANTIAGO, March 18- Chilean fertilizer group SQM said the three representatives on its board from Canadian stakeholder Potash Corp resigned on Tuesday evening in the midst of a campaign financing scandal that has shaken the Chilean establishment. SQM Vice Chairman Wayne Brownlee, who is also chief financial officer of Potash Corp, and directors Jose Maria...

  • SANTIAGO, March 17- SQM fertilizer company has fired its chief executive after it became embroiled in an election campaign financing scandal that has rocked the Chilean establishment, tainting business leaders and politicians with close links to the 1973-1990 dictatorship of Augusto Pinochet. Shortly after the announcement, SQM said it would voluntarily...

  • Chile's SQM fires CEO tied to campaign finance scandal Tuesday, 17 Mar 2015 | 9:46 AM ET

    SANTIAGO, March 17- Chile's SQM has fired its chief executive after the fertilizer company became embroiled in a campaign financing scandal largely involving a right-wing party with close links to the 1973-1990 dictatorship of Augusto Pinochet. Authorities are probing whether resources were channeled illicitly to finance electoral campaigns for the...

  • ZURICH/ BERLIN, March 12- Volkswagen is in talks to sell a 50 percent stake in financing arm LeasePlan to a consortium including the Abu Dhabi Investment Authority, a source familiar with the plan said, as the carmaker cuts costs and refocuses its business. The Wolfsburg- based carmaker owns VW Leasing GmbH, its own in-house leasing business, and is increasingly...

  • LONDON/ DUBAI, March 12- Saudi Aramco, the kingdom's state oil giant, is close to completing a $10 billion tightly-priced loan, banking sources said on Thursday, part of which could be used to back the purchase of a stake in German synthetic rubber firm Lanxess. The cash replaces an existing $4 billion five-year loan due to mature later this year which Aramco, the...

  • Alibaba enlists startups to provide UK trade financing Wednesday, 11 Mar 2015 | 3:00 AM ET

    SAN FRANCISCO, March 11- Alibaba Group Holding Ltd has enlisted two UK startups to provide financing for small British businesses looking to buy from Chinese suppliers, aiming to help cash-strapped firms access the world's largest economy. The partnerships with iwoca Ltd and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in...

  • Loretta Moseman and Joe Bonocore will serve as interim co-heads for Citi's treasury as the company conducts a search for a successor, Citigroup CFO John Gerspach said in an internal memo seen by Reuters. Aboaf has been a key figure in financing Citi and is familiar to institutional investors who buy Citi's debt. Aboaf restructured Citi's balance sheet to...

  • Mizuho USA CEO: Insatiable thirst for yield   Tuesday, 3 Mar 2015 | 3:02 PM ET
    Mizuho USA CEO: Insatiable thirst for yield

    Insight to the second largest corporate debt issuance in the history of the market, with John Koudounis, Mizuho USA CEO.

  • AFRICAN DEVELOPMENT BANK TO BRING $900 MILLION IN FINANCING TO SIMANDOU IRON ORE PROJECT- FINANCE MINISTER.

  • Why I'm not waiting for the oil bottom: Rubenstein Tuesday, 3 Mar 2015 | 10:25 AM ET
    David Rubenstein, The Carlyle Group co-founder and managing director

    Carlyle Group's David Rubenstein told CNBC he is not waiting for oil to hit a bottom before investing in beaten-up energy companies.

  • Kaisa unveils onshore debt restructuring plan   Monday, 2 Mar 2015 | 10:22 PM ET
    Kaisa unveils onshore debt restructuring plan

    Christopher Yip, director of Corporate Ratings at Standard & Poor's Ratings Services, discusses Chinese developer Kaisa's restructuring plan for its onshore debt.

  • March 2- Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar...

  • Feb 27- Mortgage servicer Ocwen Financial Corp said it received a notice from a trustee terminating its services for two pools of securitized mortgage loans. Moody's Investors Service downgraded Ocwen's credit rating to' B2' from' B1' after the New York Department of Financial Services alleged that the company sent backdated foreclosures letters to...

  • Feb 26- Peer-to-peer lender Prosper Marketplace Inc said it has partnered with Western Independent Bankers, a consortium of small community banks, to boost loan offerings through its online platform. Community banks, which focus on small businesses and farm lending, comprise 96.8 percent of all banks in the United States, said Vermut, a former co-head of prime...

  • SAO PAULO, Feb 25- Grupo BTG Pactual SA, Latin America's largest independent investment bank, missed fourth-quarter profit estimates on Wednesday after trading income fell short of forecasts and loan-loss provisions soared as a large client fell in arrears. Corporate lending, a key revenue line, fell to 97 million reais, the lowest in more than three years, as BTG...

  • SAO PAULO/ NEW YORK, Feb 25- Petróleo Brasileiro SA has hired JPMorgan Chase& Co to handle $3 billion in planned asset sales this year, as fallout from a corruption scandal has shut access to financing for Brazil's state-controlled oil producer, two sources with direct knowledge of the situation said on Wednesday. JPMorgan will be tasked with luring the largest...